Jushi Cuts $53M Debt With New $48M Loan, Now Holds Less Than $1M In Short-Term Debt
Portfolio Pulse from Nina Zdinjak
Jushi Holdings Inc. refinanced its $53 million loan with a new $48.5 million senior secured term loan and $7.4 million in cash, reducing its short-term debt to less than $1 million. The new loan has a 12.25% interest rate and includes five-year warrants for investors. Jushi will report its Q2 2024 financial results on August 7, 2024.
August 01, 2024 | 5:48 pm
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Jushi Holdings Inc. refinanced its $53 million loan with a new $48.5 million senior secured term loan and $7.4 million in cash, reducing its short-term debt to less than $1 million. The new loan has a 12.25% interest rate and includes five-year warrants for investors.
The refinancing significantly strengthens Jushi's balance sheet by reducing short-term debt and securing a new loan with institutional lenders. This move is likely to be viewed positively by investors, leading to a short-term price increase.
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